BlockBeats News, May 20th, Trump's digital asset advisor Patrick Witt recently stated on the podcast show "The Wolf Of All Streets" that "the Trump administration has cleared significant legal hurdles, and an announcement regarding a Bitcoin strategic reserve is expected to be made in the next few weeks."

Witt said, "We have everything in place, legally sound, and properly protecting these assets (Bitcoin). If there is a change in power, how reversible is an executive order? Very easily reversible. The U.S. government believes it should be part of the financial architecture, endorsed by the most powerful institution. We now have a truly leading opportunity. Many will say that banks may actually need this legislation more than the crypto industry. This will be the new architecture of the future financial system. If we do not establish the rules, we will just have to follow someone else's rulebook."